Morning Brief: Berkshire Hathaway adds two to its board

What to watch today

On the calendar on Wednesday, investors will have a fairly light schedule with the economic highlight coming from the December reading on import prices. Earnings, meanwhile, will be focused on homebuilders with Lennar (LEN) and KB Home (KBH) both reporting earnings while grocery chain Supervalu (SVU) will also release quarterly results.

Trump yanks Florida from offshore drilling plan: The Trump administration is ruling out plans to sell new drilling rights off the coast of Florida, including eastern Gulf of Mexico waters coveted by oil companies, amid pressure from Republican Governor Rick Scott. The about-face came just five days after the Interior Department said it was considering selling oil and gas leases in more than 90% of U.S. coastal waters. [Bloomberg]

Gundlach says S&P 500 will have negative return for 2018: Jeffrey Gundlach, the billionaire bond manager, says the S&P 500 Index will end the year with a negative return and is dubious of the long-term value of bitcoin. The money manager also said he doesn’t own bitcoin. [Bloomberg]

Bannon out as chairman of Breitbart News: Former White House chief strategist Steve Bannon is stepping down as chairman of Breitbart News Network after a public break with President Donald Trump. Breitbart announced Tuesday that Bannon would step down as executive chairman of the conservative news site, less than a week after Bannon’s explosive criticisms of Trump and his family were published in a new book. [AP]